Sweetheart Deals For Downtown Businesses Not Unheard Of
Tonight, the Annapolis City Council is prepared to vote on the Market House. Specifically on a lease that will allow Gone To Market, LLC to develop and manage the structure for up to 30 years.
There has been much discussion on the lease and how it is is too one sided in favor of the developer. Critics have lambasted the City for not earning money from the property and for considering a half million dollar renovation to facilitate Gone To Market’s move in. While Mayor Cohen continues to profess that this will be the fulcrum for downtown rejuvenation.
Sweetheart deal or not, te Market House is not the only local icon to have a lease from the City. While it certainly is not the same, Mike Ashford signed a 40 year lease for McGarvey’s on September 11, 1978.
Here are some basic differences between the two:
| Gone To Market | McGarvey’s | |
| Rent | Yes-based on profit | Yes-minimal, with escalation |
| Renovations | No | Yes |
| Term | 30 years | 40 years |
| Taxes | No | Yes |
| Maintenance | Some | Yes |
| Insurance | Yes | Yes |
| Structural Responsibility | No | Yes |
| HVAC | No | Yes |
| Easy Out | Yes | No |
